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IZMO Gains 14%; BSE IT Index Down 0.9%
Wed, 10 Jul 12:17

IZMO Gains 14%; BSE IT Index Down 0.9%Image source: DNY59/www.istockphoto.com

IZMO share price has zoomed 14% and is presently trading at Rs 487.5.

Meanwhile, the BSE IT index is at 38,137.2 (down 0.9%).

Among the top gainers in the BSE IT index today are Tata Elxsi (up 1.1%) and INDIAMART INTERMESH (up 0.9%).

Firstsource Solutions (down 2.2%) and Mphasis (down 2.2%) are among the top losers today.

Over the last one year, IZMO has moved up from Rs 188.2 to Rs 487.5, registering a gain of Rs 299.4 (up 159.1%).

On the other hand, the BSE IT index has moved up from 29,484.7 to 38,137.2, registering a gain of 29.3% during the last 12 months.

The top gainers among the BSE IT index stocks during this same period were Oracle Financial Services (up 173.4%), Birlasoft (up 99.7%) and INFIBEAM AVENUES (up 95.8%).

Dear Reader: If You Invest in Midcap Stocks, this is for You

What About the Benchmark Indices?

The BSE Sensex is at 79,758.3 (down 0.7%).

The top losers among the BSE Sensex today are M&M (down 7.3%) and TCS (down 1.7%). The most traded stocks in the BSE Sensex are Tata Steel and ITC.

In the meantime, NSE Nifty is at 24,265.1 (down 0.7%). M&M and Hindalco are among the top losers in NSE NIFTY.

Over the last 12 months, the BSE Sensex has moved up from 65,344.2 to 79,758.3, registering a gain of 14,414.1 points (up 22.1%).

IZMO Financial Update...

IZMO net profit grew 9.0% YoY to Rs 90 million for the quarter ended March 2024, compared to a profit of Rs 83 million a year ago. Net sales rose 15.2% to Rs 503 million during the period as against Rs 437 million in January-March 2023.

For the year ended March 2023, IZMO reported 24.8% increase in net profit to Rs 200 million compared to net profit of Rs 160 million during FY22. Revenue of the company grew 16.2% to Rs 1,538 million during FY23.

The current Price to earnings ratio of IZMO, based on rolling 12 month earnings, stands at 26.5.

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